The crypto situation turns weirder as the “top angel investor” regards that the cryptos are nothing but scam in plain sight hiding under the alluring network of blockchain. This is a quite strong statement that has ignited the crypto fanbase into yelling counter statements bearing stronger sentiments along with plausible reasons. A crypto enthusiasts and analyst, Joseph Young claims that this is rather absurd as there are other financial juggernauts who are expecting much higher from the crypto, hoping their fair share to turn out once the cryptos achieve prosperity and sky rocket through competition to be regularized. Young’s statement does bear some truth in it as organizations have their strongest bets over cryptos, namely, IDG Capital. Sequoia Capital China, Y Combinator, Sequoia Capital. Andreessen Horowitz along with other similarly renowned firms. BlockPublisher got to gather remarks from Joseph Young over the very discourse.
Cryptos being regarded as scam is just outrageous from an angel investor, as major firms and organizations including the likes of IDG Capital. Sequoia Capital China, Y Combinator, Sequoia Capital. Andreessen Horowitz and many of the biggest venture capital firms have their fair share dumped over cryptos in terms of huge bets.
Cryptos, specifically bitcoin have always been in the receiving end of some exclusively critical fire which is obviously not something new as this phase, the mass adoption one has not been pulled off by the upcoming breakthrough digital assets. These sort of rows and harsh statements are likely to strike the cryptos with heavy blows like this one.
Though there seems a bright chance that there would be a senseless bout as per the statement that the cryptos have been designed to scam the people out of their financial assets, Young has his way of reasoning. He claims that this is just a way to downgrade the digital assets from booming unto the already established ventures of the business juggernauts. With major firms putting their unraveled belief with the share they have imposed over cryptos, this statement is nothing short of a fluke and a false blow to the surging trend. CZ Binance also stated his input over the matter further explaining what cryptos have turned out to be and what exactly cryptos are being bashed for.
Crypto is a broad term already. Is internet a scam? no. Does scams exist on the internet? yes (cough twitter cough). But no, internet (and twitter) itself is not a scam, and useful for lots of good things.